Voice platform Observe.AI raises $8 million from Nexus Venture, others
Maschmeyer Group Ventures, Liquid 2 Ventures and Hack VC also participated in the investment round
New Delhi: Observe.AI, a voice platform for call centres, has raised $8 million in Series A funding led by Nexus Venture Partners, the company said in a statement on Tuesday. San Francisco based Maschmeyer Group Ventures (US investment arm of the Maschmeyer Group), seed stage fund Liquid 2 Ventures and Hack VC also joined the investment round.
Existing investors, including Emergent Ventures and Y Combinator, which invested seed funding of $1million and $120,000 earlier in January this year, participated as well.
The India-US startup offers an artificial intelligence enabled voice platform that provides call center agents with real-time customer sentiment feedback allowing them to take action accordingly. The platform listens to the call stream, understands contexts and generates suggestions for the agent, according to the company.
“Companies have been actively discouraging their customers from calling their agents for the last two decades because of increasing costs even though it is a natural way for humans to get help. With recent advances in deep learning and NLP, which will dramatically increase the productivity of agents, call centers are ready to become the first port of contact again for customer service,” said Ram Gupta, managing director of Nexus Venture Partners.
Headquartered in California, the company also offers automation of tasks for call-center agents, including auto-completion of forms, helping find information and guidance on the next steps to a customer call.
“The agent no longer needs to place customers on hold, or transfer them around; continuous engagement is established until a successful resolution is reached. Our agent-first approach is all about making the job of the agent easier, which translates into better productivity and higher customer satisfaction,” said Jain, co-founder and chief executive officer at Observe.AI
Founded in May 2017 by Akash Singh, Sharath Keshava and Swapnil Jain, Observe.AI partnered with cloud-based call centre provider Talkdesk, which offers services to IBM and Dropbox.